Zerodha CEO Nithin Kamath Issues Apology for Recent Platform Glitches
In an official communication, Nithin Kamath, the CEO of Zerodha, has issued a sincere apology for the technical disruptions experienced by users on November 6 and December 4. Kamath acknowledged that these issues affected a significant percentage, ranging from 5 to 20 percent, of Zerodha’s active user base, and expressed regret for any inconvenience caused.
Addressing the root cause of the problems, Kamath stated, “The issues on Nov 6th and Dec 4th were triggered due to edge cases with our external dependencies. This is not a excuse, and I understand that, as a platform, we are responsible for all the issues you face.” He further emphasized the broker’s reliance on multiple external dependencies, including exchanges, depositories, and the execution management system (EMS) vendor.
On December 4, Zerodha Kite users encountered difficulties logging into the platform. Zerodha explained that the system faced a surge in password requests, causing login issues. Additionally, the email alert system notified numerous users about logins from new locations/IPs. This was attributed to a recent update to the IP database over the weekend, resulting in changes to the recorded locations of many users and triggering the alerts, as mentioned in Zerodha’s official bulletin.
Users also experienced a technical issue on November 6, where they were unable to view their executed orders in their order book on Kite and faced challenges accessing their holdings and fund pages. Kamath clarified that this particular issue arose from an unscheduled update in the anti-malware monitoring service from the EMS vendor, causing server throttling.
Assuring users of proactive measures, Zerodha conveyed their commitment to resolving these technical challenges promptly to ensure a more stable and reliable trading platform. Kamath expressed gratitude for users’ patience and understanding during this period of inconvenience.
How does your apology help thousands of retail traders who have planned their trades and lost fortune due to your internal tech glitch? #zerodha
Zerodha CEO Nithin Kamath apologises for recent tech issues in Zerodhahttps://t.co/jNxysfS3Qn
— Vijay🇮🇳 (@VijayarajB) December 5, 2023
